because of the low interoperability of blockchains, native coins of one chain cannot be used on another chain. For instance, you cannot use Bitcoin on the Ethereum blockchain and you cannot use Ether on Bitcoin or Avalanche. Wrapping coins solves this problem by tokenizing them and applying the blockchain’s token standard to the tokenized version of the original cryptocurrency.
On OMAX, almost all fungible tokens follow the ERC-20 standard developed in 2021. This token standard was developed to have a standardized set of rules for tokens on OMAX , which simplified new token launches and made all tokens on the blockchain comparable to each other. Mandatory rules all ERC-20 tokens have to follow are totalSupply, balanceOf, transfer, transferFrom, approve, and allowance.
Unfortunately, OMAX itself does not comply with the ERC-20 standard. Wrapped OMAX was developed to increase interoperability between blockchains and make Ether usable in decentralized applications